July 8, 2008The McCain campaign falsely claims that Obama voted to raise income taxes on individuals earning "as little as $32,000 per year."SummaryThe McCain campaign claims that Obama voted to raise income taxes on individuals who earn as little as $32,000 per year. That's wrong. The resolution Obama voted for would not have increased taxes on any single taxpayer making less than $41,500 per year in total income, or any couple making less than $83,000. The $32,000 figure is approximately the taxable income of a single person making $41,500 per year, after all deductions and exclusions. Obama's vote (for a non-binding budget bill) does not change the fact that his own tax plan would provide a tax cut of $502 for a non-married taxpayer earning $35,000. AnalysisSen. John McCain's "economic adviser" Steve Forbes pushed the...
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